System and method for obtaining and/or maintaining insurance coverage

ABSTRACT

An intermediary entity may act on behalf of consumers to find policy rates and/or other features that best meet the consumers&#39; insurance requirements and/or preferences. For instance, consumers may give affirmative consent or otherwise opt into a program that provides insurance cost savings or discounts. Based upon an analysis of individual consumer characteristics and/or insurance preferences, each individual consumer may be grouped with other insurance consumers having similar characteristics and/or insurance preferences. The insurance consumer groupings may be offered for sale, such as through an online auction. When a winning bid is accepted, the insurance policies of the consumers may be updated or new policies may be provided and/or presented to individual consumers for their approval, thereby providing consumers with lower cost insurance and/or insurance that is more reflective of actual risk (or lack thereof). The consumer groups may be updated over time and re-auctioned.

CROSS-REFERENCE TO RELATED APPLICATIONS

This is a continuation of U.S. patent application Ser. No. 14/871,401filed on Sep. 30, 2015 now U.S. Pat. No. 10,510,120 and entitled “Systemand Method for Obtaining and/or a Maintaining Insurance Coverage,” whichclaims priority to and the benefit of U.S. Provisional Application No.62/060,080 filed on Oct. 6, 2014 and entitled “System and Method forObtaining and/or a Maintaining Insurance Coverage,” U.S. ProvisionalApplication No. 62/104,596 filed on Jan. 16, 2015 and entitled “Systemand Method for Obtaining and/or a Maintaining Insurance Coverage,” U.S.Provisional Application No. 62/189,885 filed on Jul. 8, 2015 andentitled “System and Method for Obtaining and/or a Maintaining InsuranceCoverage,” and U.S. Provisional Application No. 62/199,008 filed on Jul.30, 2015 and entitled “System and Method for Obtaining and/or aMaintaining Insurance Coverage.” The entire disclosure of each of theabove-identified applications is hereby incorporated herein byreference.

Additionally, the subject matter of the present application is relatedto U.S. application Ser. No. 14/868,864, filed Sep. 29, 2015 andentitled “System and Method for Obtaining and/or Maintaining InsuranceCoverage” and to U.S. application Ser. No. 14/868,874, filed Sep. 29,2015 and entitled “System and Method for Obtaining and/or MaintainingInsurance Coverage,” the entire disclosures of which are herebyincorporated herein by reference.

FIELD OF THE DISCLOSURE

The present disclosure generally relates to insurance and, morespecifically, to systems and methods for obtaining and/or maintaininginsurance coverage.

BACKGROUND

Individuals who seek insurance coverage and are sensitive to pricing andproduct features (e.g., coverage types and/or limits, deductibles, etc.)often expend considerable time and effort in finding insurance providersthat best meet their needs. Conventionally, a consumer finds aninsurance provider by way of an agent/broker, an aggregator, acomparison web site, general web browsing, etc. Once the consumerobtains an insurance policy from the desired provider, the consumer istypically tied to that provider, and to the rate and product features ofthe policy offered by the provider, until and unless he or sheproactively shops around for a new provider offering a policy with abetter rate and/or product features. For example, a consumer mightdecide to look into the offerings of other insurance providers when theconsumer's current policy is up for renewal. Thus, a consumer typicallymust either spend time and effort looking for better insurance offeringson a recurring basis (e.g., once every six months or annually), orsimply renew his or her current policy regardless of whether that policyprovides the best rate and/or product features.

SUMMARY

The present embodiments may, inter alia, automatically provide consumerswith insurance policies that offer superior rates and/or productfeatures on a continuing basis (e.g., across multiple policy terms),thereby reducing or eliminating the time and/or effort that consumersmust spend researching the offerings of different insurance providers,as well as providing consumers with insurance policies that have lowercost and/or are more reflective of a risk score, characteristics, and/orpreferences of the consumer as they change over time. The terms“consumer” and “customer” are utilized interchangeably herein, andgenerally refer to a person who is an insured party or a potentialinsured party. A consumer or customer may be represented by himself orherself, or may be represented by an agent (e.g., by a spouse, a personwho has power of attorney for the consumer or customer, anadministrative assistant, etc.).

An intermediary entity may act on behalf of consumers and/or theiragents to find policy rates and/or other features that best meet theconsumers' insurance requirements and/or preferences. Based uponconsumer or customer characteristics and/or insurance preferences, eachconsumer or customer may be grouped with other insurance consumers orcustomers that have the same or similar characteristics and/or insurancepreferences. The insurance consumer or customer groupings may be basedupon demographic information (e.g., gender, birth date, etc.),information about the consumer's property (e.g., a make, model and yearof an automobile, etc.), claim and/or accident history of the consumer,risk (or lack thereof) characteristics of the group members, insuranceclaim expectations of the group members, insurance company ratings, thecontent and/or availability of telematics data obtained from vehiclesand/or mobile devices of the group members, driving behavior, etc. Theinsurance consumer or customer groupings may be offered for sale tovarious insurance providers, such as through an online auction. Once awinning bid is accepted, any existing insurance policies of the consumeror customers affiliated with the auctioned group may (or may not) beupdated to reflect new insurance policy terms or parameters (e.g.,premiums, rates, etc.), discounts, refunds, etc. In some cases, newinsurance policies may be provided to one or more consumers (such aswhen a consumer is an insurance applicant, or when an existing insurancepolicy is canceled and a new policy is issued in its stead). Theconsumer or customer groups may be updated (and/or new consumer orcustomer groups may be created) over time as new or more recent consumeror customer characteristic data and/or preference information iscollected and/or updated. Then the insurance policies associated withthe updated (or new) consumer or customer groups may be re-auctioned (orauctioned).

In one aspect, a computer-implemented method includes: (1) analyzing,via one or more processors, multiple insurance applications, accounts,and/or policies for at least one of preferences or characteristics ofmultiple individuals and/or consumers corresponding to the multipleinsurance applications, accounts, and/or policies, wherein the at leastone of the preferences or characteristics of the multiple individualsand/or consumers includes a risk score of a particular insured, the riskscore stored in a consumer profile of the particular insured; (2)detecting an event, or lack thereof, that impacts the risk score of theparticular insured, wherein detecting the event comprises analyzing, viathe one or more processors, telematics data collected by a mobile deviceof the particular insured; (3) updating, via the one or more processors,the risk score of the particular insured based on the analyzedtelematics data; (4) dividing or segmenting, via the one or moreprocessors, the multiple individuals and/or consumers into multipleinsurance policy groups or segments based upon the at least one ofpreferences or characteristics of the multiple individuals and/orconsumers; (5) auctioning, via the one or more processors and by usingan electronic or communications network, an opportunity to provideinsurance for one or more of the multiple insurance policy groups orsegments; (6) receiving, via the one or more processors and theelectronic or communications network, one or more bids for purchaseand/or offers of insurance for the one or more of the multiple insurancepolicy groups or segments; and (7) accepting, via the one or moreprocessors, one of the bids for purchase and/or insurance offers for theone or more of the multiple insurance policy groups or segments.

In another aspect, a system includes a persistent memory storing aconsumer profile database, one or more communication interfacesconfigured to communicate with remote devices via one or more electronicor communications networks, one or more processors, and one or morenon-transitory, computer-readable media. The one or more non-transitory,computer-readable media store instructions that, when executed by theone or more processors, cause the system to: (1) analyze consumerprofiles that are included in the consumer profile database and thatcorrespond to multiple insurance consumers for at least one ofpreferences or characteristics of the multiple insurance consumers,wherein the at least one of the preferences or characteristics of themultiple individuals and/or consumers includes a risk score of aparticular insured, the risk score in a consumer profile of theparticular insured; (2) detect an event, or lack thereof, that impactsthe risk score of the particular insured, wherein detecting the eventcomprises analyzing, via the one or more processors, telematics datacollected by a mobile device of the particular insured; (3) update, viathe one or more processors, the risk score of the particular insuredbased on the analyzed telematics data; (4) divide or segment themultiple insurance consumers into multiple insurance policy groups orgroupings based upon the at least one of the preferences orcharacteristics of the multiple insurance consumers; (5) auction, viathe one or more electronic or communications network and by using theone or more communication interfaces, an opportunity to provideinsurance for one or more of the multiple insurance policy groups orgroupings; (6) receive, at the one or more communication interfaces, oneor more bids for purchase and/or offers for insurance for the one ormore of the multiple insurance policy groups or groupings; and (7)accept one of the bids for purchase and/or offers for insurance for theone or more of the multiple insurance policy groups or groupings.

In another aspect, a system includes a persistent memory storing aconsumer profile database, one or more communication interfacesconfigured to communicate with remote devices via one or more electronicor communications networks, one or more processors, and one or morenon-transitory, computer-readable media. The one or more non-transitory,computer-readable media stores instructions that, when executed by theone or more processors, cause the system to: (1) analyze consumerprofiles that are included in the consumer profile database and thatcorrespond to multiple insurance consumers for at least one ofpreferences or characteristics of the multiple insurance consumers,wherein the at least one of preferences or characteristics of themultiple individuals and/or consumers includes a risk score of aparticular insured, the risk score stored in a consumer profile of theparticular insured; (2) detect an event, or lack thereof, that impactsthe risk score of the particular insured, wherein detecting the eventcomprises analyzing, via the one or more processors, telematics datacollected by a mobile device of the particular insured; (3) update therisk score of the particular insured based on the analyzed telematicsdata; (4) divide or segment the multiple insurance consumers intomultiple insurance policy groups or groupings based upon the at leastone of the preferences or characteristics of the multiple insuranceconsumers; and (5) auction, via the one or more electronic orcommunications network and by using the one or more communicationinterfaces, an opportunity to provide insurance for one or more of themultiple insurance policy groups or groupings.

With the present embodiments, a customer may first opt into a program(such as an insurance rewards or discount program) or agreement (e.g.,one offered by an intermediary entity such as the entity associated withcomputing system 14 of FIG. 1), and willingly share his or her personaldata (and/or vehicle data, health data, mobile device data, etc.) forpurposes of obtaining insurance coverage (and/or insurance discounts).In return, the customer may obtain one or more benefits that may beprovided by various embodiments described herein, such as superiorinsurance rates/terms, and/or automatic renewal (or change) of insurancepolicies with little or no effort by the customer, for example. In someembodiments, customers who opt in may also receive other benefits, suchas insurance discounts or rewards, or additional insurance coverage, forexample.

Advantages will become more apparent to those skilled in the art fromthe following description of the preferred embodiments which have beenshown and described by way of illustration. As will be realized, thepresent embodiments may be capable of other and different embodiments,and their details are capable of modification in various respects.Accordingly, the drawings and description are to be regarded asillustrative in nature and not as restrictive.

BRIEF DESCRIPTION OF THE DRAWINGS

The Figures described below depict various aspects of the system andmethods disclosed therein. It should be understood that each Figuredepicts an embodiment of a particular aspect of the disclosed system andmethods, and that each of the Figures is intended to accord with apossible embodiment thereof. Further, wherever possible, the followingdescription refers to the reference numerals included in the followingFigures, in which features depicted in multiple Figures are designatedwith consistent reference numerals.

There are shown in the drawings arrangements which are presentlydiscussed, it being understood, however, that the present embodimentsare not limited to the precise arrangements and instrumentalities shown,wherein:

FIG. 1 depicts an exemplary environment including components associatedwith obtaining and/or maintaining insurance coverage, according to oneembodiment;

FIG. 2 depicts an exemplary computer system in which the techniquesdescribed herein may be implemented, according to one embodiment; and

FIG. 3 depicts an exemplary computer-implemented method of auctioninggroups or bundles of insurance policies.

The Figures depict preferred embodiments for purposes of illustrationonly. One skilled in the art will readily recognize from the followingdiscussion that alternative embodiments of the systems and methodsillustrated herein may be employed without departing from the principlesof the invention described herein.

DETAILED DESCRIPTION I. Exemplary Automatic Procurement and Maintenanceof Insurance Coverage

The present embodiments relate to, inter alia, obtaining and/ormaintaining insurance coverage with insurance policies havingadvantageous rates and/or product features. The insurance policies maybe policies for any type of insurance, such as automobile or othervehicle insurance, home or condominium insurance, personal propertyinsurance or life insurance, health insurance, pet insurance, burialinsurance, for example.

In some embodiments, an intermediary entity may act on behalf ofconsumers to find policy rates and/or other features that best meet theconsumers' insurance requirements and/or preferences. Initially, eachconsumer may access an application form (e.g., an on-line form) andenter information relevant to the availability and/or pricing of theconsumer's desired insurance policy, such as demographic information(e.g., gender, birth date, etc.), information about the consumer'sproperty (e.g., a make, model and year of an automobile, etc.), claimand/or accident history of the consumer, and so on. Based upon theentered information, the consumer may be grouped together with one ormore other consumers in an “affinity group.” The affinity group may bedefined by any suitable criterion or criteria, such as insuranceprovider requirements and/or classifications, behavioral and/orattitudinal segmentation, member requirements and/or preferences, etc.To provide just a few more specific examples, the affinity group may bedefined by the occupation of the group members, risk characteristics ofthe group members (e.g., as is typically determined during theunderwriting process), insurance claim expectations of the group members(e.g., based upon past claim history and/or risk characteristics),insurance company ratings required or preferred by the group members(e.g., AAA), the content and/or availability of telematics data obtainedfrom vehicles of the group members, etc. An affinity group may beestablished any time that two or more members are identified as meetingthe group requirements, or may be established only when some higherthreshold number of members (e.g., 100 members, 1,000 members, etc.) hasbeen met, for example.

Once an affinity group has been established, the intermediary entity maypresent information about the affinity group members to a number ofinsurance providers/carriers, along with a request for insurancecoverage quotes. The intermediary entity may hold an auction within aparticular time period or window of time, for example. During theauction, the participating insurance providers may be permitted to bidon providing insurance for the affinity group. The insurance providerthat “wins” by bidding the lowest price/rate (given the profile of theaffinity group members), or more generally, in some embodiments, bybidding to provide a policy that aligns most closely with therequirements and/or preferences of the group members, may be chosen toprovide the insurance to the members of the affinity group for aspecified time period or term (e.g., six months). During that timeperiod, the winning insurance provider may directly handle claims andother inquiries from the members of the affinity group (e.g., on-lineand/or via a dedicated call center), and the members of the affinitygroup may have their checking accounts, credit cards, and/or other fundsources automatically debited (e.g., periodically) by the winninginsurance provider in order to pay for the insurance coverage.

In some embodiments, the intermediary entity may, prior to theconclusion of each of one or more policy terms for the affinity groupmembers, automatically conduct another auction for the affinity group.In this manner, the affinity group members may continually receive themost competitively priced insurance coverage (and/or the insurance withthe best product features), with little or no additional effort by thegroup members. Some of the benefits and/or pricing discounts earned bygroup members, such as loyalty or accident-free discounts, may become apart of the profile of the affinity group, and may be priced into thefuture costs of the affinity group's insurance coverage. If a member ofthe affinity group has a driving violation or accident, the member maybe moved to a different affinity group to which the member better aligns(e.g., to an affinity group with more similar risk characteristicsand/or insurance claim expectations, etc.) for future auctions. Theintermediary entity may conduct insurance coverage auctions for a numberof different affinity groups. The intermediary entity may form newgroups, rearrange existing groups, and/or shop groups to insuranceproviders on a periodic (e.g., daily) basis, or on any other suitablebasis.

In some embodiments, the intermediary entity may instead (oradditionally) obtain insurance policies for consumers on an individualbasis. For example, the intermediary entity may use a consumer profile(e.g., containing information that was entered in an on-line or otherapplication form, claim information, telematics data, etc.) toautomatically seek out an insurance company providing a policy that bestmeets the pricing and/or product feature requirements and/or preferencesof the consumer. The intermediary entity may automatically perform thisprocess when the consumer first obtains a policy and/or each time thatthe consumer's current policy is up for renewal. In these embodiments,the intermediary entity may seek the best insurance provider/policy eachterm (e.g., each six months) without conducting auctions. For example,the intermediary entity may instead request a single quote from each ofmultiple insurance providers each time that a current policy term isdrawing to a close, and select the provider with the “best” (e.g.,lowest price) quote for the next term without entertaining a secondround of bids.

The intermediary entity may obtain revenue in various different waysaccording to different embodiments. For example, the insurance providerthat offers a winning bid in an auction might pay the intermediaryentity a flat administrative fee, and/or a commission that includes apercentage of the insurance premium(s) for the affinity group.Alternatively, or additionally, each member of the affinity group mightpay the intermediary entity an annual membership fee.

By using one or more of the techniques described above, consumers may beable to obtain insurance coverage at the most competitive priceavailable, on a continuing basis and without the hassles of shopping forinsurance on their own. Moreover, participating insurance providers maybe able to attract larger groups of consumers, including those whootherwise may not have considered those providers for their insuranceneeds.

II. Exemplary Environment for Automatically Obtaining and MaintainingInsurance Coverage

FIG. 1 depicts an example environment 10 including components associatedwith obtaining and/or maintaining insurance coverage, according to anembodiment. As illustrated in FIG. 1, the environment 10 may include Mcomputing devices 12-1 through 12-M associated with M respectiveconsumers (e.g., thousands of consumers, millions of consumers, etc.).Each of the computing devices 12-1 through 12-M may be any suitable typeof computing device having wired and/or wireless communicationcapabilities, such as a personal computer, tablet, phablet, smartphone,etc.

The environment 10 may also include a computing system 14 associatedwith an intermediary entity. The computing system 14 may include one ormore servers of the intermediary entity, or may include a plurality ofnetworked computing devices that have an appearance of a single, logicalcomputing device or system, e.g., a group of cloud computing devices.The computing system 14 may be communicatively coupled to computingdevices 12-1 through 12-M via a network (not shown in FIG. 1). Thenetwork may be a single communication network, or may include multiplecommunication networks of one or more types (e.g., one or more wiredand/or wireless local area networks (LANs), and/or one or more wiredand/or wireless wide area networks (WANs) such as the Internet), forexample.

The environment 10 may also include computing systems 16-1 through 16-Nassociated with N respective insurance providers (e.g., two insuranceproviders, five insurance providers, etc.). Each of the computingsystems 16-1 through 16-N may include one or more servers or computingdevices of the respective insurance provider, and may be communicativelycoupled to computing system 14 via a network (not shown in FIG. 1). Thenetwork may be a single communication network, or may include multiplecommunication networks of one or more types (e.g., one or more wiredand/or wireless LANs, and/or one or more wired and/or wireless WANs suchas the Internet), for example. Each of the insurance providers 16-1through 16-N may be a company providing a particular type or types ofinsurance, such as automobile or other vehicle insurance, home orcondominium insurance, personal property insurance and/or lifeinsurance, for example.

The computing system 14 may include various units, including a consumerprofiling unit 20, a consumer grouping unit 22, a policy procurementunit 24 and a notification unit 26. Each of some or all of the units 20,22, 24 and 26 may be (or may include) a respective set of one or morecomputing devices or processors that executes software instructions toperform the corresponding functions described herein. Alternatively,each of some or all of the units 20, 22, 24 and 26 may be or include arespective component of software that is stored on one or morecomputer-readable media (e.g., a random access memory (RAM) and/orread-only memory (ROM) of the computing system 14) and executed by oneor more processors of the computing system 14 to perform thecorresponding functions described herein. Further, one or more of theunits may be combined into a single unit, or may be omitted. In variousdifferent embodiments, for example, the computing system 14 does notinclude consumer grouping unit 22 and/or notification unit 26.

Generally, in one embodiment, consumer profiling unit 20 collectsinformation regarding the consumers operating computing devices 12-1through 12-M (with consumer permission or affirmative consent, orotherwise after a consumer opts into an insurance discount or otheronline program), and stores the collected information in a consumer orcustomer profile database 30 that includes a separate profile for eachconsumer. The consumer or customer profile database 30 may be anysuitable type of persistent memory. Consumer profiling unit 20 mayobtain the information in any of one or more ways. For example, consumerprofiling unit 20 may obtain demographic information (e.g., gender,birth date) and information about consumers' properties (e.g., makes,models and years of automobiles, etc.) via on-line forms (e.g.,insurance applications and/or reviews) filled out by the consumers usingcomputing devices 12-1 through 12-M. The consumer profiling unit 20 mayprovide the on-line forms as one or more web pages (e.g., HTML files,JavaServer Pages files, etc.) stored in a memory of the computing system14, and the consumers may use web browser applications executing on thecomputing devices 12-1 through 12-M to access the web page(s), forexample. Via the on-line forms, or via other suitable means, consumerprofiling unit 20 may also collect insurance preferences and/orrequirements of the various consumers. For example, each consumer mayenter his or her preferred or required coverage types, coverage limits,deductibles, insurance provider ratings (e.g., AAA), and/or any otherpreference or requirement relating to insurance. A consumer may indicatethat he or she prefers to have a policy through an insurance companythat offers live insurance agents, for example. In an alternativeembodiment and/or scenario, some or all of the consumers provideinformation via physical application forms, and some or all of thecomputing devices 12-1 through 12-M may be omitted in the exampleenvironment 10. Generally, the customer profiling unit 20 may store theindividual preferences of a particular customer consumer (or indicationsthereof) in a respective customer profile of the customer profiledatabase 30.

Further, consumer profiling unit 20 may collect other information thatis also to be stored in consumer profile database 30 (with customerpermission). For a consumer already having an insurance policy with aninsurance provider (e.g., one of the insurance providers associated withcomputing systems 16-1 through 16-N), for example, consumer profilingunit 20 may receive or obtain information from the consumer's insuranceaccount and/or policy. For example, claims information from thatprovider (e.g., number and/or dates of past claims, past claim payoutsmade to or on behalf of the consumer, etc.) may be obtained.Alternatively, or additionally, consumer profiling unit 20 may receivetelematics data indicative of a consumer's driving performance (e.g.,acceleration data, braking data, cornering data, etc.). Generally, thecustomer profiling unit 20 may store individual characteristics of aparticular customer or consumer (or indications thereof) in a respectivecustomer profile within the customer profile database 30. Individualcustomer characteristics may include, for example, age, account status(for customers who have insurance policies that are in force), maritalstatus, education level, occupation, finances or income, drivinghistory, accident history, vehicle type, home type, geographicallocation, risk score, driving behavior, and/or other individual customercharacteristics.

Consumer grouping unit 22 may utilize at least some of the consumerinformation stored in consumer profile database 30 (with customerpermission) to form one or more affinity groups, and store indicationsof which of the consumers belong to which affinity groups in an affinitygroup database 32. The affinity group database 32 may be any suitabletype of persistent memory (e.g., the same memory storing consumerprofile database 30). Consumer grouping unit 22 may place the consumersinto the affinity group(s) based upon the criteria of the groups, whichmay reflect consumer preferences and/or requirements, insurance providerrequirements and/or classifications, and/or behavioral and/orattitudinal segmentation of consumers (e.g., as determined usingtelematics data indicating driving performance/behaviors), for example.

Policy procurement unit 24 may conduct an automated auction in order toobtain insurance policies for the members of each of the one or moreaffinity groups. For a given affinity group, policy procurement unit 24may send information defining the group membership criteria, and/orinformation about the individual members (e.g., profile informationstored in consumer profile database 30), to each of the insuranceprovider computing systems 16-1 through 16-M, along with a request forinsurance premium quotes. After analyzing the information, one or moreof the insurance providers may decide to bid on the provision ofinsurance to the affinity group, and policy procurement unit 24 mayreceive the bid(s) from the respective ones of insurance providercomputing systems 16-1 through 16-M. Policy procurement unit 24 may sendeach received bid to all others of the insurance provider computingsystems 16-1 through 16-M, and bidding may continue in an iterativefashion until auction termination criteria have been met (e.g., until apredetermined amount of time elapses, or until a predetermined amount oftime since the last bid elapses, etc.). The insurance provider havingthe best bid (e.g., lowest price and/or best non-price features) at thetime the auction terminates may be granted the ability to provideinsurance policies to the members of the affinity group—which may besubject to individual member approval.

The intermediary entity may be authorized to enter a binding contractfor the policy/policies on behalf of the consumers, or may require someconfirmation or election by the members of the affinity group. If acontract is automatically established via by the agency of theintermediary entity, notification unit 26 may cause the members of theaffinity group to be informed of the new insurance provider and the newpolicy (e.g., by email, letter, etc.). If consumer confirmation orelection is required, notification unit 26 may instead cause the membersof the affinity group to be sent an indication of the best offer oroffers and the corresponding providers, along with a request forconfirmation or election. Policy procurement unit 24 may then form thecontract with the winning insurance provider after the confirmation orelection, for example.

In some embodiments, policy procurement unit 24 may also be responsiblefor renewing existing insurance policies, or switching to (and/oroffering to do so for the customer) a new provider and policy if abetter rate and/or other policy features can be found. For example,policy procurement unit 24 may store policy term data for all procuredpolicies in a term schedule database 34 (which may be any suitable typeof persistent memory, such as the memory storing consumer profiledatabase 30 and/or affinity group database 32), and may access termschedule database 34 to detect when policy terms are nearing their end(e.g., one month before expiration, or one week before expiration,etc.). When policy terms are nearing their end for the members of anaffinity group, policy procurement unit 24 may conduct a new auctionamong the insurance providers (possibly including more, fewer and/ordifferent providers than had participated in the previous auction), anda new winning provider may be identified. If the winning provider is thesame as the current provider, the policies may simply be renewed. Again,notification unit 26 may cause the members of the affinity group to benotified of the renewal (or to be notified of the switch to a newprovider), or may first request confirmation or an election from themembers. In some embodiments, the affinity group may be reviewed and/oradjusted (e.g., members added and/or removed) by consumer grouping unit22 prior to each auction, to help ensure that the affinity groupcriteria continue to be met by all of its members.

In some embodiments and/or scenarios, all members of a single affinitygroup are provided with policies that have identical start and stopdates. In other embodiments and/or scenarios, at least some of themembers may be provided with policies having different start and/or stopdates (e.g., based upon requested start and/or stop dates stored in theconsumer profile database 30, etc.).

In some embodiments, consumer grouping unit 22 is omitted, and thecomputing system 14 only attempts to obtain insurance coverage forconsumers on an individual basis. In one such embodiment, policyprocurement unit 24 may obtain the best rate for each consumer not byconducting an auction, but rather by automatically requesting a singlequote from each of the insurance providers, and taking the best quote(e.g., the lowest premium, and/or a quote with other features bestmatching the consumer's preferences and/or requirements). Similar to theauction embodiments described above, policy procurement unit 24 maydetect when a renewal time is approaching, and automatically request anew round of quotes from the insurance providers at that time todetermine whether to renew the consumer's current policy or to initiatea new policy with a new provider. Notification unit 26 may simply notifythe consumer of the policy and provider for each upcoming term, or mayfirst request confirmation or election of a particular policy/provider.

III. Exemplary Computer System for Automatically Obtaining and/orMaintaining Insurance Coverage

FIG. 2 depicts an example computer system 300 in which the techniquesdescribed herein may be implemented, according to an embodiment. In oneembodiment, the computer system 300 may be included in the system 10 ofFIG. 1. For example, any one or more of the units 20-26 may comprise oneor more instances of the computer system 300, or the intermediary entity14 may comprise one or more instances of the computer system 300. Thecomputer system 300 of FIG. 2 includes a computing device in the form ofa computer 310. Components of the computer 310 may include, but are notlimited to, a processing unit 320, a system memory 330, and a system bus321 that couples various system components including the system memory330 to the processing unit 320. The system bus 321 may be any of severaltypes of bus structures including a memory bus or memory controller, aperipheral bus, or a local bus, and may use any suitable busarchitecture. By way of example, and not limitation, such architecturesinclude the Industry Standard Architecture (ISA) bus, Micro ChannelArchitecture (MCA) bus, Enhanced ISA (EISA) bus, Video ElectronicsStandards Association (VESA) local bus, and Peripheral ComponentInterconnect (PCI) bus (also known as Mezzanine bus).

Computer 310 typically includes a variety of computer-readable media.Computer-readable media can be any available media that can be accessedby computer 310 and includes both volatile and nonvolatile media, andboth removable and non-removable media. By way of example, and notlimitation, computer-readable media may comprise computer storage mediaand communication media. Computer storage media includes tangible,volatile and nonvolatile, removable and non-removable media implementedin any method or technology for non-transitory storage of informationsuch as computer-readable instructions, data structures, program modulesor other data. Computer storage media includes, but is not limited to,RAM, ROM, EEPROM, FLASH memory or other memory technology, CD-ROM,digital versatile disks (DVD) or other optical disk storage, magneticcassettes, magnetic tape, magnetic disk storage or other magneticstorage devices, or any other medium which can be used to store thedesired information and which can accessed by computer 310.Communication media typically embodies computer-readable instructions,data structures, program modules or other data in a modulated datasignal such as a carrier wave or other transport mechanism, and includesany information delivery media. The term “modulated data signal” means asignal that has one or more of its characteristics set or changed insuch a manner as to encode information in the signal. By way of example,and not limitation, communication media includes wired media such as awired network or direct-wired connection, and wireless media such asacoustic, radio frequency (RF), infrared and other wireless media.Combinations of any of the above are also included within the scope ofcomputer-readable media.

The system memory 330 includes computer storage media in the form ofvolatile and/or nonvolatile memory such as read only memory (ROM) 331and random access memory (RAM) 332. A basic input/output system 333(BIOS), containing the basic routines that help to transfer informationbetween elements within computer 310, such as during start-up, istypically stored in ROM 331. RAM 332 typically contains data and/orprogram modules that are immediately accessible to, and/or presentlybeing operated on, by processing unit 320. By way of example, and notlimitation, FIG. 2 illustrates operating system 334, applicationprograms 335, other program modules 336, and program data 337.

The computer 310 may also include other removable/non-removable,volatile/nonvolatile computer storage media. By way of example only,FIG. 2 illustrates a hard disk drive 341 that reads from or writes tonon-removable, nonvolatile magnetic media, a magnetic disk drive 351that reads from or writes to a removable, nonvolatile magnetic disk 352,and an optical disk drive 355 that reads from or writes to a removable,nonvolatile optical disk 356 such as a CD ROM or other optical media.Other removable/non-removable, volatile/nonvolatile computer storagemedia that can be used in the exemplary operating environment include,but are not limited to, magnetic tape cassettes, flash memory cards,digital versatile disks, digital video tape, solid state RAM, solidstate ROM, and the like. The hard disk drive 341 may be connected to thesystem bus 321 through a non-removable memory interface such asinterface 340, and magnetic disk drive 351 and optical disk drive 355may be connected to the system bus 321 by a removable memory interface,such as interface 350.

The drives and their associated computer storage media discussed aboveand illustrated in FIG. 2 provide storage of computer-readableinstructions, data structures, program modules and other data for thecomputer 310. In FIG. 2, for example, hard disk drive 341 is illustratedas storing operating system 344, application programs 345, other programmodules 346, and program data 347. Note that these components can eitherbe the same as or different from operating system 334, applicationprograms 335, other program modules 336, and program data 337. Operatingsystem 344, application programs 345, other program modules 346, andprogram data 347 are given different numbers here to illustrate that, ata minimum, they are different copies. A user may enter commands andinformation into the computer 310 through input devices such as cursorcontrol device 361 (e.g., a mouse, trackball, touch pad, etc.) andkeyboard 362. A monitor 391 or other type of display device is alsoconnected to the system bus 321 via an interface, such as a videointerface 390. In addition to the monitor, computers may also includeother peripheral output devices such as printer 396, which may beconnected through an output peripheral interface 395.

The computer 310 may operate in a networked environment using logicalconnections to one or more remote computers, such as a remote computer380. The remote computer 380 may be a personal computer, a server, arouter, a network PC, a peer device or other common network node, andtypically includes many or all of the elements described above relativeto the computer 310, although only a memory storage device 381 has beenillustrated in FIG. 2. The logical connections depicted in FIG. 2include a local area network (LAN) 371 and a wide area network (WAN)373, but may also include other networks. Such networking environmentsare commonplace in hospitals, offices, enterprise-wide computernetworks, intranets and the Internet.

When used in a LAN networking environment, the computer 310 is connectedto the LAN 371 through a network interface or adapter 370. When used ina WAN networking environment, the computer 310 typically includes amodem 372 or other means for establishing communications over the WAN373, such as the Internet. The modem 372, which may be internal orexternal, may be connected to the system bus 321 via the input interface360, or other appropriate mechanism. The communications connections 370,372, which allow the device to communicate with other devices, are anexample of communication media, as discussed above. In a networkedenvironment, program modules depicted relative to the computer 310, orportions thereof, may be stored in the remote memory storage device 381.By way of example, and not limitation, FIG. 2 illustrates remoteapplication programs 385 as residing on memory device 381.

In some configurations, the computer 310 may be included in a pluralityof networked computers or computing devices that have the logicalappearance as a single, integral computing node, e.g., a cloud computingsystem. For example, the application programs 345, other program modules346 and/or program data 337 may be stored in and executed by thelogical, single computing node.

The techniques for automatically obtaining and/or maintaining insurancecoverage described above may be implemented in part or in their entiretywithin a computer system such as the computer system 300 illustrated inFIG. 2. The computer 310 may be a server or computing device of anintermediary entity (e.g., within the computing system 14 of FIG. 1),and the remote computer 380 may be a server or computing device of aninsurance provider (e.g., within one of the computing systems 16-1through 16-N of FIG. 1), for example. In some such embodiments, the LAN371 may be omitted (e.g., communications may between computer 310 andcomputer 380 may only occur via WAN 373). Application programs 335 and345 may include programs that implement accepting customer opt-in,consumer profiling unit 20, consumer grouping unit 22, policyprocurement unit 24 and/or notification unit 26 of FIG. 1, for example.Consumer profile database 30, affinity group database 32 and/or termschedule database 34 may be stored on hard disk drive 341, magnetic disk352 or optical disk 356, for example.

In operation, the computer 310 may receive customer affirmative consentvia the Internet; demographic, property, preference and/or otherinformation from consumer computing devices (not shown in FIG. 2); formaffinity groups based upon that information; provide the remote computer380 (and one or more other, similar computers of other insuranceproviders) at least some of the consumer information along with arequest for bids; and/or receive bids from the remote computer 380(and/or from one or more other, similar computers of other insuranceproviders). The computer 310 may then determine the winning bid andnotify the consumers in the affinity group by sending messages (e.g.,emails) to the appropriate consumer computing devices, for example.

IV. Exemplary Computer-Implemented Method

FIG. 3 illustrates an exemplary computer-implemented method, e.g., forauctioning groups of insurance policies 400 or providing insurance togroups of consumers or customers. In one embodiment, at least a portionof the method 400 may be performed by the system 10 of FIG. 1 and/or bythe computer system 300 of FIG. 2. The method 400 may include, via oneor more processors, computing devices, or servers: receiving customeropt-in to a discount or other program, or affirmative consent; analyzinga set of insurance customers by their individual characteristics and/orinsurance policy preferences 402; dividing and/or classifying the set ofinsurance customers into groups or segments based upon the customers'individual characteristics and/or preferences 404; auctioning oroffering for sale the opportunity to provide insurance to one or moregroups 406; receiving and comparing one or more bids 408; accepting oneor more winning bids 409; notifying insurance customers of new insurancepolicies and/or changes to existing insurance policies, premiums,discounts, etc. 410 (and/or accepting or receiving customer approval ofnew policies, such as via wireless communication with their mobiledevices); automatically detecting driving events or other events thatmay impact a risk score and/or a customer profile of a customerassociated with a particular insurance group or segment 412; updatingthe customer's risk score or profile 414; and/or updating the particularinsurance group or segment with which the customer is associated, and/ormoving the customer to be associated with another group or segment 416.After a number of customers have been moved to new or different groupsor segments, another auction of the new or updated groups may be held406, the process may continue 408, 409, 410, 412, 414, 416, etc. Themethod may include additional, fewer, or alternate actions, includingthose discussed elsewhere herein.

The method 400 may include (e.g., via one or more processors, computingdevices, or servers) analyzing insurance customers by their individualcharacteristics and/or insurance policy preferences 402. In oneembodiment, insurance customer characteristics and/or insurance policypreferences (or indications thereof) may be stored in the customerprofile database 30, so that each customer profile stored thereinincludes indications of individual customer characteristics and/orpreferences of the respective customer. The analysis of insurancecustomers may include analysis of customers' insurance policypreferences (with customer permission), such as by insurance coverages,deductibles, and/or limits typically desired or requested by individualcustomers. For instance, a group of customers may prefer a $500deductible for homeowner's and/or automobile insurance. Another group ofcustomers may prefer a $1,000 deductible for homeowner's and/orautomobile insurance. As another example, groups of customer may preferto have: $300,000 (or other amounts) of liability coverage for variousinsurance policies; certain types of coverages and/or insurance; certainlevels of deductibles; $250,000, $500,000, or other amounts of coveragefor health or life insurance; etc. Additionally or alternatively, theanalysis of insurance customers may include analysis of otherpreferences (again with customer permission), such as a particularcharacteristic of an insurance company (e.g., rating, web presence,proximity of local agent office, etc.) and/or claims expectations. Thus,groups of similarly minded customers or risk averse insureds may begrouped together based upon similar preferences of insurance parametersand/or terms, and/or similar risk level.

Additionally or alternatively, groups of customers may be groupedtogether based upon similar customer characteristics. Characteristicsthat may be analyzed by the one or more processors may include customerrisk, risk scores, age, account status (e.g., when a customer ispresently insured), marital status, finances or income, education level,occupation, driving history, accident history, geographical location,vehicle type, home type, and/or other individual characteristics ofcustomers. Also, in some embodiments, telematics data associated with acustomer's driving behavior may be analyzed (with customer permission)for use in classifying or grouping customers/drivers. One or moreprocessors may access a database and/or customer profiles that arestored in one or more memory units (local and/or remote memory units) toanalyze the customer characteristics and/or customer insurance policypreferences, for example.

The method 400 may include (e.g., via the one or more processors,computing devices or servers), dividing, grouping, and/or classifyinginsurance customers into groups or segments 404. For example, one ormore insurance customers, insurance applications, insurance customeraccounts, and/or insurance policies may be grouped together or segmentedinto an insurance policy group, also referred to interchangeably hereinas an insurance customer group or an insurance group. Based upon theanalysis of customers mentioned above (such as computer analysis ofcustomer characteristics, customer insurance policy preferences, and/ortelematics data), the customers may be divided into groups or segmentsof customers having similar characteristics and/or preferences. Forinstance, one group or segment of automobile insurance customers may becharacterized as (1) low risk drivers or drivers with a risk scorewithin a given range; (2) owners of a certain type of vehicle orvehicles; (3) living within a particular geographical location (e.g., agiven state, city, or zip code); (4) having one or more deductiblepreferences; (5) having one or more coverage preferences; (6) having oneor more common characteristics (age, education, marital status,occupation, etc.); (7) having similar driving or accident histories,and/or lack of vehicle accidents; and/or (8) other common factors.

In one embodiment, insurance customer or policy groups may additionallyor alternatively be defined by behavioral and attitudinal segmentationand/or customer criteria, such as occupation, risk characteristics,insurance claims expectations, insurance company ratings, and/ortelematics data gathered from or associated with customer vehicles orcustomer driving behavior. Other customer or policy groups or segmentsmay be defined, including those discussed elsewhere herein.

In one embodiment, an indication of each insurance policy group, anindication of the one or more consumers associated with each insurancepolicy group, and/or an indication of the one or more preferences and/orcharacteristics that corresponded to the formation of each insurancepolicy group may be stored. For example, the customer grouping unit 22may store one or more of said indications in the affinity group database32.

The method 400 may include (e.g., via the one or more processors,computing devices or servers), auctioning or offering for sale theopportunity to provide insurance for one or more of the insurancecustomer groups 406. Each group of insurance customers having commoncharacteristics and/or insurance policy preferences may be presented topotential bidders (e.g., to at least some of the plurality of insuranceproviders 16-1 to 16-N) via an electronic or online auction. Forinstance, the one or more processors, computing devices or servers maycause a particular insurance group associated with a given group ofinsurance customers (characterized by customer characteristics,insurance policy preferences, and/or telematics data, for instance) tobe presented and/or offered for sale on remote display screens (such asvia the internet or a secure communications network) of at least some ofthe insurance provider systems 16-1 to 16-N. Additionally oralternatively, an indication of the particular insurance group, thegiven group of insurance customers associated therewith, and/or anindication of the one or more individual preferences and/orcharacteristics based upon which the group was formed may be provided tothe insurance provider systems 16-1 to 16-N, and the insurance providersystems 16-1 to 16-N may generate their respective bids based upon thisinformation.

The method 400 may include (e.g., via the one or more processors,computing devices or servers), receiving and/or comparing one or morebids 408. Bidders for the various groups of similarly situated and/orlike-minded insurance customers (such as grouped by low or medium riskdrivers, insureds with the same preferences for deductibles orcoverages, insureds having similar driving behaviors (as evidenced bytelematics data), etc.) may submit their bids via remote computers. Thebids may be received by a processor or server associated with the entityrunning the auction via wireless or wired communication and/or datatransmission.

The method 400 may include, via the one or more processors, accepting arespective bid for purchase and/or offer for sale for one or more of theinsurance policy groups or groupings 409. For example, an accepted orwinning bid may be determined based upon one or more criteria, such ascost, overall match to affinity group members (e.g., based upon customercharacteristics, insurance policy preferences, and/or telematics data,for instance), and/or other criteria. In one embodiment, the accepted orwinning bid may be determined based upon a prioritization of the one ormore criteria. In some cases, upon acceptance of a winning bid, themethod 400 may include updating existing insurance policies, rates,premiums, discounts, etc. and/or providing new insurance policies toconsumers associated with the affinity group based upon the winning bid.The updates to existing insurance policies and/or the establishment ofnew insurance policies may provide lower cost insurance to therespective insureds, e.g. to at least some of the consumers associatedwith the affinity group. Further, the updates to the existing insurancepolicies and/or the establishment of the new insurance policies may bemore reflective of the actual risk (or lack thereof) to at least somerespective insureds than were their previous insurance policies (ifany). Still further, the updates to the existing insurance policiesand/or the establishment of the new insurance policies may be morereflective of the updated or changed preferences and/or thecharacteristics of at least some of the individual insurance customersassociated with the affinity group.

The method 400 may include, via the one or more processors, computingdevices or servers, notifying insurance customers of new insurancepolicies, premiums, rates, discounts, etc. 410 (and/or acceptingcustomer approval or rejection thereof). As previously discussed, aftera winning bid has been determined or selected 409, new insurancepolicies, rates, premiums, discounts, etc. may be determined or updated.New insurance policies and associated information may be communicated tothe insureds that may be impacted by the auction, such as notified ofreduced premiums and/or increased discounts (such as increased discountsfor low risk driving behavior).

The method 400 may include, via the one or more processors, computingdevices or servers, automatically detecting driving events or otherevents that may impact a risk associated with a customer 412, e.g.,risk-impacting events. Over time, risk associated with each customer maychange. For example, a customer may engage in low risk behavior, and/ormay not be involved with automobile accidents, and/or may not report anyinsurance claims. On the hand, another customer may be involved in ahigh number of automobile accidents and/or otherwise engage in riskydriving behavior. As a result, risk associated with various customers(or risk scores) may be lowered or increased over time based upon dataanalysis by one or more processors, such as by a processor associatedwith an insurance provider and with the permission of the insured. Forinstance, insureds engaging in low-risk behavior may desire for theirinformation to be analyzed by an insurance provider to achieve adiscount on various insurance products. The data may be gathered by oneor more processors, such as gathered from a customer profile and/or fromthird party sources, such as a DMV (Department of Motor Vehicles).Additionally or alternatively, the data may be telematics data that isgathered by a mobile device (e.g., smart phone) and/or a conventionaltelematics device that plugs into an electrical or computer system of avehicle, or otherwise physically connects to a vehicle.

The method 400 may include, via the one or more processors, computingdevices or servers, updating the customer's risk score and/or customerprofile 414. Based upon the data gathered and/or collected by one ormore processors, each customer's profile, risk profile, and/or riskscore may be updated to reflect low or high-risk behavior. Additionallyor alternatively, a customer's profile may reflect more recent orchanged customer preferences for various insurance policy coverages,deductibles, limits, etc. The customer profile may also be updated toreflect more recent or current customer preferences for various types ofinsurance or insurance products that the customer may be interested in,such as life or health insurance, or renters versus home insurance. Thecustomer profile may be updated to reflect changed customercharacteristics, e.g., changes in address, income, age, etc. As anotherexample, a customer's risk score or profile for automobile insurance maybe updated based upon a lack of accidents for a given period of time,and/or involvement in one or more vehicle accidents. The cause of thevehicle accidents may also be factored into the risk score and/orcustomer profile.

The method 400 may include, via the one or more processors and basedupon the updated customer risk score and/or profile, updating thecustomer group and/or moving the customer to a new group 416. Forinstance, based upon a customer's updated profile and/or risk score, anindividual customer may be moved to or associated with, via one or moreprocessors, a new or different customer group or segment. Additionallyor alternatively, based upon a customer's most recent preferences forinsurance policy coverages, deductibles, or limits, and/or types ofinsurance products, an individual customer may be moved or re-assignedto, by the one or more processors, a new or different customer group orsegment.

The method 400 may include, via the one or more processors, computingdevices or servers, after a number of customers have been moved to newor different risk-based groups, having or holding another auction of thenew or updated groups 406, and then the process may continue (as shownin FIG. 3). For instance, after a number of customers have been moved toa new or different group of insurance customers based upon their changedpersonal characteristics (education, marital status, age, driving recordor history, etc.) and/or changed insurance policy preferences (newinterest in life or health insurance, new interest in home ownersinsurance, changed policy deductibles or coverages, interest in usingtelematics devices and/or gathering telematics data, etc.), a newelectronic or online auction of the new, or revised/updated group ofinsurance policies associated with those insurance customers for whichpersonal characteristics and/or insurance policies have changed may beheld, such as under the direction of one or more processors.

V. Exemplary Method of Auctioning Insurance Policies

In one aspect, a computer-implemented method of auctioning groups ofinsurance policies via an electronic or communications network may beprovided. The method may include, after receiving customer permission oraffirmative consent: (1) analyzing, via one or more processors, multipleinsurance applications, accounts, and/or policies for individualinsurance policy preferences and/or individual characteristics ofmultiple customers or consumers; (2) dividing or segmenting, via the oneor more processors, the multiple customers or consumers into variousinsurance groups, groupings, or segments based upon the individualinsurance policy preferences and/or characteristics; (3) auctioning, viathe one or more processors, such as via one or more electronic orcommunications networks, the opportunity to provide insurance for one ormore of the various insurance groups or segments; (4) receiving, via theone or more processors, bids for purchase and/or offers of insurance forone or more of the various insurance groups; (5) accepting, via the oneor more processors, one of the bids for purchase and/or offers; and/or(6) updating, via the one or more processors, existing insurancepolicies and/or establishing new insurance policies for at least some ofthe insureds associated with an insurance policy group corresponding tothe accepted bid, thereby providing lower cost insurance and/orinsurance more reflective of actual risk, or lack thereof, to the atleast some of the insureds. The method may include additional, fewer, oralternate actions, including those discussed elsewhere herein.

For instance, the individual insurance policy preferences may includeindividual consumer preferences for insurance policy coverages,deductibles, limits, term lengths, and/or other insurance parameters;and the insurance groups or segments each may be associated withautomobile, life, health, renters, home, pet, and/or burial insurance.The individual insurance policy preferences may include individualconsumer preferences for claims expectations, telematics use, and/orinsurance company ratings, in one embodiment.

The individual consumer characteristics may relate to a consumer's age,account and/or policy status, marital status, education, occupation,finances or income, driving history, accident history, vehicle type,home type, geographical location (state or city), risk, risk scores,and/or other individual characteristics. Additionally or alternatively,the consumer characteristics may relate to individual driving behaviorthat is based upon computer analysis of telematics data. The telematicsdata may be associated with an individual driver or insured, and/or maybe gathered or collected from a mobile device or conventional telematicsdevice that plugs into or otherwise is communicatively connected to anelectrical or computer system of a vehicle associated with theindividual driver or insured.

The method may further include analyzing for (with customer permission)and detecting an event, or lack thereof, that impacts a risk or riskscore of an insured, such as by accessing a third party or governmentdatabase over a communication network and/or by analyzing telematicsdata corresponding to the insured. The risk score may be stored, forexample, in a consumer profile of the insured. The method may alsoinclude (i) updating the consumer profile and/or the risk score of aninsured based upon the detected event; (ii) updating the insurancepolicy group or grouping to which the insured belongs or reassigning theinsured to another insurance policy group based upon the updatedconsumer profile or risk score, and/or (iii) offering for auction theopportunity to provide insurance for the updated or another insurancegroup.

VI. Exemplary Systems for Auctioning Insurance Policies

In one aspect, a system, e.g., for auctioning insurance policies, may beprovided. The system may include one or more persistent memories storinga consumer profile database including a plurality of consumer profiles;one or more communication interfaces to communicate with remote devicesvia one or more networks; and one or more processors. The system mayalso include one or more non-transitory, computer-readable orcomputer-executable media storing instructions thereon. Theinstructions, when executed by the one or more processors, may cause thesystem to analyze (with customer permission) stored consumer profiles ofmultiple insurance consumers to discover or determine consumer insurancepolicy preferences and/or consumer characteristics. For example, theconsumer insurance policy preferences may include individual consumerpreferences for insurance policy coverages, insurance policydeductibles, insurance policy limits, claims expectations, telematicsuse, insurance parameters, and/or insurance company ratings; and themultiple insurance consumers (and their respective applications,accounts, and/or policies) may be associated with automobile, life,health, renters, home, pet, and/or burial insurance. Additionally oralternatively, the consumer characteristics may relate to or beindicative of consumer age, account status, marital status, education,occupation, finances or income, driving history, accident history,vehicle type, home type, location (e.g., state or city), risk, riskscores, and/or other factors. For example, the consumer characteristicsmay relate to or be indicative of individual driving behavior that isbased upon computer analysis of telematics data, where the telematicsdata may be associated with a particular driver or insured, and thetelematics data may be gathered or collected from mobile device orconventional telematics device that plugs into or is otherwisecommunicatively connected to an electrical or computer system of avehicle corresponding to the particular driver or insured.

Further, the instructions, when executed by the one or more processors,may cause the system to divide or segment the multiple insuranceconsumers into various insurance policy groups or groupings based uponthe individual/consumer insurance policy preferences and/orindividual/consumer characteristics; auction (such as via an electronicor communications network using the one or more communicationinterfaces) the opportunity to provide insurance to consumers includedin one or more of the various insurance policy groups or groupings;receive bids for purchase and/or offers for insurance for one or more ofthe various insurance policy groups or groupings; accept one of the bidsfor purchase and/or offers for insurance; and/or update insurancepolicies for at least some of the insureds associated with a particularinsurance policy group corresponding to the accepted bid, and/orestablish new insurance policies for at least some of the insuredsassociated with the particular insurance policy group, thereby providinglower cost insurance and/or insurance that is more reflective of actualrisk, or lack thereof, to one or more insureds associated with theparticular insurance policy group.

In one embodiment, the system may include further instructions stored onthe computer-readable or computer-executable media that, when executedby the one or more processors, may cause the system to analyze for (withcustomer permission) and detect an event (or lack thereof) that impactsa risk score of a particular insured, for example, by accessing a thirdparty or government database over a communication network, and/or byanalyzing telematics data. In some cases, the further instructions, whenexecuted, may cause the system to update the risk score of theparticular insured and/or update a consumer profile of the particularinsured in which the risk score is stored, e.g., based upon the detectedevent or lack thereof; update, based upon the updated consumer profileor risk score for the particular insured, the insurance policy group orgrouping to which the particular insured belongs; and/or offer forauction the opportunity to provide insurance for the insurance policygroup or grouping that includes a particular insured with the updatedconsumer profile or risk score. The system may include additional,fewer, or alternate elements or components, including those discussedelsewhere herein.

In another aspect, a system (e.g., for auctioning insurance policies)may be provided. The system may include one or more persistent memoriesor data storage devices storing a consumer profile database including aplurality of consumer profiles, and one or more communication interfacesto communicate with remote devices via one or more networks.

The system may include a consumer grouping unit configured to group orsegment consumer profiles that are stored in the consumer profiledatabase and that correspond to multiple insurance consumers,applications, accounts, and/or policies. The grouping or segmentingperformed by the consumer grouping unit may be based upon insurancepolicy preferences and/or consumer characteristics of individualconsumers, and one or more insurance policy groups or segments may beformed. For example, the insurance policy preferences may includeindividual consumer preferences for insurance policy coverages,insurance policy deductibles, insurance policy limits, claimsexpectations, telematics use, and/or insurance company ratings. Themultiple insurance consumers, applications, accounts, and/or policiesmay be associated with the vehicle, life, health, renters, home, pet,and/or burial insurance. Additionally or alternatively, the consumercharacteristics may relate to or may be indicative of consumer age,account or policy status, marital status, education, occupation,finances or income, driving history, accident history, vehicle type,home type, location (e.g., state or city), risk, risk scores, and/orother factors. For example, the consumer characteristics may relate toor may be indicative of individual driving behavior that is based uponcomputer analysis of telematics data. The telematics data may beassociated with an individual driver or insured, and/or may be gatheredor collected from a mobile device or conventional telematics device thatis plugged into or otherwise communicatively connected to an electronicsor computer system of a vehicle corresponding to the individual driveror insured.

The system may include a policy procurement unit that is configured toauction or offer for sale (e.g., by using the one or more communicationinterfaces and one or more electronic or communications networks) anopportunity to provide insurance for consumers associated with aparticular insurance policy group, and/or to cause information about theinsurance policy preferences and/or consumer characteristics associatedwith the consumers associated with the particular insurance policy groupto be remotely displayed on one or more computer screens for view bypotential bidders (e.g., by using the one or more communicationinterfaces and one or more electronic or communications networks). Thepolicy procurement unit may further be configured to receive bids forpurchase and/or offers of insurance for the particular insurance policygroup, accept one of the bids for purchase and/or offers of insurancefor particular the insurance policy group, and/or update existinginsurance policies and/or establish new insurance policies for insuredsassociated with the particular insurance policy group, therebyfacilitating providing lower cost insurance to at least some of theinsureds, and/or providing insurance to at least some of the insuredsthat is more reflective of (i) actual risk (or lack thereof) of theinsureds, (ii) the current insurance policy preferences of theinsurance, and/or (iii) the current consumer characteristics of theinsurance.

In some embodiments, the system may be further configured to detect(with customer permission) an event (or lack thereof) that may impact arisk score of a particular insured, for example, by accessing a thirdparty or government database over communications network, and/or byanalyzing telematics data. Additionally, the system (e.g., the consumergrouping unit and/or other suitable unit) may be configured to (i)update a consumer profile or a risk score of the particular insuredbased upon the detected event (or lack thereof), and/or (ii) update theinsurance policy group or grouping to which the particular insuredbelongs, where the updating of the insurance policy group or grouping isbased upon the updated consumer profile or risk score for the particularinsured. Additionally or alternatively, the policy procurement unit(and/or other suitable unit) may be further configured to offer forauction the opportunity to provide insurance for members of theinsurance policy group or grouping that includes the particular insuredwith the updated consumer profile or risk score. The system may includeadditional, fewer, or alternate elements or components, including thosediscussed elsewhere herein.

VII. Additional Considerations

The following additional considerations apply to the foregoingdiscussion. Throughout this specification, plural instances mayimplement operations or structures described as a single instance.Although individual operations of one or more methods are illustratedand described as separate operations, one or more of the individualoperations may be performed concurrently, and nothing requires that theoperations be performed in the order illustrated. These and othervariations, modifications, additions, and improvements fall within thescope of the subject matter herein.

Unless specifically stated otherwise, discussions herein using wordssuch as “processing,” “computing,” “calculating,” “determining,”“presenting,” “displaying,” or the like may refer to actions orprocesses of a machine (e.g., a computer) that manipulates or transformsdata represented as physical (e.g., electronic, magnetic, or optical)quantities within one or more memories (e.g., volatile memory,non-volatile memory, or a combination thereof), registers, or othermachine components that receive, store, transmit, or displayinformation.

As used herein any reference to “one embodiment” or “an embodiment”means that a particular element, feature, structure, or characteristicdescribed in connection with the embodiment is included in at least oneembodiment. The appearances of the phrase “in one embodiment” in variousplaces in the specification are not necessarily all referring to thesame embodiment.

As used herein, the terms “comprises,” “comprising,” “includes,”“including,” “has,” “having” or any other variation thereof, areintended to cover a non-exclusive inclusion. For example, a process,method, article, or apparatus that comprises a list of elements is notnecessarily limited to only those elements but may include otherelements not expressly listed or inherent to such process, method,article, or apparatus. Further, unless expressly stated to the contrary,“or” refers to an inclusive or and not to an exclusive or. For example,a condition A or B is satisfied by any one of the following: A is true(or present) and B is false (or not present), A is false (or notpresent) and B is true (or present), and both A and B are true (orpresent).

In addition, use of “a” or “an” is employed to describe elements andcomponents of the embodiments herein. This is done merely forconvenience and to give a general sense of the invention. Thisdescription should be read to include one or at least one and thesingular also includes the plural unless it is obvious that it is meantotherwise.

Upon reading this disclosure, those of skill in the art will appreciatestill additional alternative structural and functional designs for asystem and a process of automatically obtaining and/or maintaininginsurance coverage through the principles disclosed herein. Thus, whileparticular embodiments and applications have been illustrated anddescribed, it is to be understood that the disclosed embodiments are notlimited to the precise construction and components disclosed herein.Various modifications, changes and variations, which will be apparent tothose skilled in the art, may be made in the arrangement, operation anddetails of the method and apparatus disclosed herein without departingfrom the spirit and scope defined in the appended claims.

The patent claims at the end of this patent application are not intendedto be construed under 35 U.S.C. § 112(f) unless traditionalmeans-plus-function language is expressly recited, such as “means for”or “step for” language being explicitly recited in the claim(s).

The invention claimed is:
 1. A computer-implemented method forsegmenting consumers based at least in part upon telematics data intoaffinity groups, the method comprising: analyzing, via one or moreprocessors, multiple insurance applications, accounts, and/or policiesfor at least one of preferences or characteristics of multipleindividuals and/or consumers corresponding to the multiple insuranceapplications, accounts, and/or policies, wherein the at least one of thepreferences or characteristics of the multiple individuals and/orconsumers includes a risk score of a particular insured, the risk scorestored in a consumer profile of the particular insured; detecting anevent, or lack thereof, that impacts the risk score of the particularinsured, wherein detecting the event comprises analyzing, via the one ormore processors, telematics data collected by a mobile device of theparticular insured and indicative of the particular insured's drivingperformance; updating, via the one or more processors, the risk score ofthe particular insured based on the analyzed telematics data; dividingor segmenting, via the one or more processors, the multiple individualsand/or consumers into multiple insurance policy groups or segments basedupon (i) the at least one of preferences or characteristics of themultiple individuals and/or consumers, and (ii) the updated risk scorefor each particular insured; auctioning, via the one or more processorsand by using an electronic or communications network, an opportunity toprovide insurance for one or more of the multiple insurance policygroups or segments; receiving, via the one or more processors and theelectronic or communications network, one or more bids for purchaseand/or offers of insurance for the one or more of the multiple insurancepolicy groups or segments; and accepting, via the one or moreprocessors, one of the bids for purchase and/or insurance offers for theone or more of the multiple insurance policy groups or segments.
 2. Thecomputer-implemented method of claim 1, wherein the at least one of thepreferences of the multiple individuals and/or consumers includepreferences for at least one of insurance policy coverage, insurancepolicy deductibles, or insurance policy limits; and wherein theparticular insurance policy group or segment is associated withautomobile, life, health, renters, home, pet, or burial insurance. 3.The computer-implemented method of claim 1, wherein the preferences ofthe multiple individuals and/or consumers include preferences for atleast one of claims expectations, telematics use, or insurance companyratings.
 4. The computer-implemented method of claim 1, wherein thecharacteristics of the multiple individuals and/or consumers relate toor are indicative of at least one of consumer age, status, maritalstatus, education, occupation, finances or income, driving history,accident history, vehicle type, home type, geographic location, risk,risk scores, or another individual characteristic.
 5. Thecomputer-implemented method of claim 1, wherein the characteristics ofthe multiple individuals and/or consumers relate to or are indicative ofindividual driving behavior that is based upon computer analysis of thetelematics data; and wherein telematics data associated with theparticular driver or insured is gathered or collected from a mobiledevice or from a conventional telematics device that physically connectswith a vehicle corresponding to the particular driver or insured.
 6. Thecomputer implemented method of claim 1, further comprising: detectinganother event, or lack thereof, that impacts the risk score of theparticular insured comprises accessing a third party or governmentdatabase via the electronic or communications network; and updating, viathe one or more processors, the risk score of the particular insuredbased on data from the third party or government database.
 7. Thecomputer-implemented method of claim 1, the method further comprising atleast one of: updating the insurance policy group or segment to whichthe particular insured belongs based upon the updated risk score or theupdated consumer profile of the particular insured; or offering forauction an opportunity to provide insurance for the updated insurancepolicy group or segment.
 8. A system for segmenting consumers based atleast in part upon telematics data into affinity groups, comprising: apersistent memory storing a consumer profile database; one or morecommunication interfaces configured to communicate with remote devicesvia one or more electronic or communications networks; one or moreprocessors; and one or more non-transitory, computer-readable mediastoring instructions that, when executed by the one or more processors,cause the system to: analyze consumer profiles that are included in theconsumer profile database and that correspond to multiple insuranceconsumers for at least one of preferences or characteristics of themultiple insurance consumers, wherein the at least one of thepreferences or characteristics of the multiple individuals and/orconsumers includes a risk score of a particular insured, the risk scorein a consumer profile of the particular insured; detect an event, orlack thereof, that impacts the risk score of the particular insured,wherein detecting the event comprises analyzing, via the one or moreprocessors, telematics data collected by a mobile device of theparticular insured and indicative of the particular insured's drivingperformance; update, via the one or more processors, the risk score ofthe particular insured based on the analyzed telematics data; divide orsegment the multiple insurance consumers into multiple insurance policygroups or groupings based upon (i) the at least one of the preferencesor characteristics of the multiple insurance consumers, and (ii) theupdated risk score for each particular insured; auction, via the one ormore electronic or communications network and by using the one or morecommunication interfaces, an opportunity to provide insurance for one ormore of the multiple insurance policy groups or groupings; receive, atthe one or more communication interfaces, one or more bids for purchaseand/or offers for insurance for the one or more of the multipleinsurance policy groups or groupings; and accept one of the bids forpurchase and/or offers for insurance for the one or more of the multipleinsurance policy groups or groupings.
 9. The system of claim 8, wherein:the preferences of the multiple insurance consumers include individualpreferences for at least one of insurance policy coverage, insurancepolicy deductibles, insurance policy limits, claims expectations,telematics use, or insurance company ratings.
 10. The system of claim 8,wherein the particular insurance policy group or grouping is associatedwith automobile, life, health, renters, home, pet, or burial insurance.11. The system of claim 8, wherein the characteristics of the multipleinsurance consumers relate to or are indicative of each consumer's age;account status; marital status; education; occupation; finances orincome; driving history; accident history; vehicle type; home type;geographical location; risk score; and/or individual driving behaviorthat is based upon computer analysis of the telematics data, wherein thetelematics data is associated with the particular driver or insured andis gathered or collected from a mobile device or from a conventionaltelematics device that connects into a vehicle.
 12. The system of claim8, wherein the one or more non-transitory, computer-readable mediastores further instructions that, when executed by the one or moreprocessors, cause the system to: detect another event, or lack thereof,that impacts the risk score of the particular insured and further, toaccess a third party or government database via the electronic orcommunications network; and update the risk score of the particularinsured based on data from the third party or government database. 13.The system of claim 8, wherein the one or more non-transitory,computer-readable media stores further instructions that, when executedby the one or more processors, cause the system to at least one of:update the insurance policy group or grouping to which the particularinsured belongs based upon the updated consumer profile or the updatedrisk score of the particular insured; or offer for auction anopportunity to provide insurance for the insurance policy group orgrouping that includes the particular insured with the updated consumerprofile or the updated risk score.
 14. A system for segmenting consumersbased at least in part upon telematics data into affinity groups,comprising: a persistent memory storing a consumer profile database; oneor more communication interfaces configured to communicate with remotedevices via one or more electronic or communications networks; one ormore processors; and one or more non-transitory, computer-readable mediastoring instructions that, when executed by the one or more processors,cause the system to: analyze consumer profiles that are included in theconsumer profile database and that correspond to multiple insuranceconsumers for at least one of preferences or characteristics of themultiple insurance consumers, wherein the at least one of preferences orcharacteristics of the multiple individuals and/or consumers includes arisk score of a particular insured, the risk score stored in a consumerprofile of the particular insured; detect an event, or lack thereof,that impacts the risk score of the particular insured, wherein detectingthe event comprises analyzing, via the one or more processors,telematics data collected by a mobile device of the particular insured;update the risk score of the particular insured based on the analyzedtelematics data; divide or segment the multiple insurance consumers intomultiple insurance policy groups or groupings based upon the at leastone of the preferences or characteristics of the multiple insuranceconsumers; and auction, via the one or more electronic or communicationsnetwork and by using the one or more communication interfaces, anopportunity to provide insurance for one or more of the multipleinsurance policy groups or groupings, wherein the preferences of themultiple insurance consumers include individual preferences for at leastone of insurance policy coverage, insurance policy deductibles,insurance policy limits, claims expectations, telematics use, orinsurance company ratings.
 15. The system of claim 14, wherein thesystem if further configured to update existing insurance policies orprovide new insurance policies for insureds associated with a particularinsurance policy group or grouping corresponding to the accepted bid,and the particular insurance policy group or grouping is associated withautomobile, life, health, renters, home, pet, or burial insurance. 16.The system of claim 14, wherein the characteristics of the multipleinsurance consumers relate to or are indicative of each consumer's age;account status; marital status; education; occupation; finances orincome; driving history; accident history; vehicle type; home type,geographical location; and/or risk score.
 17. The system of claim 14,wherein the characteristics of the multiple insurance consumers relateto or are indicative of each consumer's individual driving behavior thatis based upon computer analysis of telematics data, wherein thetelematics data is associated with a particular driver or insured and isgathered or collected from a mobile device or from a conventionaltelematics device that connects into a vehicle.
 18. The system of claim14, wherein the one or more non-transitory, computer-readable mediastores further instructions that, when executed by the one or moreprocessors, cause the system to (i) detect another event, or lackthereof, that impacts the risk score of the particular insured byaccessing a third party or government database via the one or moreelectronic or communication networks, and (ii) update the risk score ofthe particular insured based on the data from the third party orgovernment database.
 19. The system of claim 14, wherein the one or morenon-transitory, computer-readable media stores further instructionsthat, when executed by the one or more processors, cause the system toat least one of: update the insurance policy group or grouping to whichthe particular insured belongs based upon the updated consumer profileor the updated risk score of the particular insured; or offer forauction an opportunity to provide insurance for the insurance policygroup or grouping that includes the particular insured with the updatedconsumer profile or the updated risk score.